ConocoPhillips Q2 2022 Earnings Report
Key Takeaways
ConocoPhillips reported second-quarter 2022 earnings of $5.1 billion, or $3.96 per share, compared with second-quarter 2021 earnings of $2.1 billion, or $1.55 per share. Excluding special items, second-quarter 2022 adjusted earnings were $5.1 billion, or $3.91 per share, compared with second-quarter 2021 adjusted earnings of $1.7 billion, or $1.27 per share.
Increased expected 2022 return of capital to shareholders to a total of $15 billion.
Distributed $3.3 billion to shareholders through a three-tier framework.
Expanded global LNG portfolio through participation in QatarEnergy’s North Field East LNG project.
Generated cash provided by operating activities of $7.9 billion and cash from operations (CFO) of $7.8 billion.
ConocoPhillips
ConocoPhillips
Forward Guidance
Third-quarter 2022 production is expected to be 1.70 to 1.76 million barrels of oil equivalent per day (MMBOED), reflecting the impacts of planned seasonal turnarounds primarily in Alaska and the Asia-Pacific region.